Sri Lanka USD515mn development bond oversubscribed

Bonds

June 28, 2017 (LBO) – The issue of Sri Lanka development bonds amounting to 515 million US dollars has been oversubscribed with close to 1 billion US dollars of bids received from investors.

The Central Bank has received 452.55 million dollars of bids for the one year seven months bond and the bank has accepted 73.93 million at a floating rate of six month LIBOR plus 274.93 basis points.

The bank has also received 181.29 million dollars of bids for the three year bond and the bank has accepted 107.65 million at a floating rate of six month LIBOR plus 364.86 basis points.

181.15 million dollars of bids has been received for the four year bond and the bank has accepted 158.10 million at a floating rate of six month LIBOR plus 387.69 basis points.

The Central Bank has received 184.32 million dollars of bids for the four years nine months bond and the bank has accepted 175.32 million at a floating rate of six month LIBOR plus 411.76 basis points.

The issue was open for subscription from 20 to 27 June and has a settlement date of 30 June 2017.

Development bonds are issued by the Public Debt Department of Central Bank and exempted from income tax paid in Sri Lanka.